BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Holdings in Bausch Health Companies Inc. (NYSE:BHC)

Posted by Defense World Staff on Jun 4th, 2023

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in Bausch Health Companies Inc. (NYSE:BHC – Get Rating) by 27.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,419 shares of the company’s stock after selling 46,977 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Bausch Health Companies were worth $775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BHC. Optiver Holding B.V. lifted its stake in Bausch Health Companies by 707.6% in the third quarter. Optiver Holding B.V. now owns 4,054 shares of the company’s stock worth $28,000 after acquiring an additional 3,552 shares during the period. Pacifica Partners Inc. lifted its stake in Bausch Health Companies by 2,232.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,015 shares of the company’s stock worth $31,000 after acquiring an additional 4,800 shares during the period. Quadrant Capital Group LLC lifted its stake in Bausch Health Companies by 420.1% in the third quarter. Quadrant Capital Group LLC now owns 5,851 shares of the company’s stock worth $40,000 after acquiring an additional 4,726 shares during the period. Veriti Management LLC purchased a new stake in Bausch Health Companies in the fourth quarter worth $75,000. Finally, FMR LLC lifted its stake in Bausch Health Companies by 58.3% in the second quarter. FMR LLC now owns 10,057 shares of the company’s stock worth $84,000 after acquiring an additional 3,703 shares during the period. Hedge funds and other institutional investors own 66.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BHC. StockNews.com began coverage on Bausch Health Companies in a research report on Thursday, May 18th. They set a “hold” rating for the company. Jefferies Financial Group raised their price objective on Bausch Health Companies from $7.00 to $9.50 in a research report on Monday, May 22nd. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.88.

Bausch Health Companies Price Performance

BHC opened at $8.23 on Friday. The firm has a market cap of $2.98 billion, a PE ratio of -8.40, a P/E/G ratio of 0.13 and a beta of 0.95. The stock has a 50-day moving average price of $7.40 and a 200-day moving average price of $7.59. Bausch Health Companies Inc. has a 1 year low of $4.00 and a 1 year high of $10.23. The company has a debt-to-equity ratio of 139.36, a current ratio of 1.08 and a quick ratio of 0.77.

About Bausch Health Companies

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Bausch Health Cos., Inc engages in the development, manufacture and market of a range of branded, generic and branded generic pharmaceuticals, medical devices and over-the-counter products. It operates through the following segments: Salix, International, Solta Medical, Diversified Products, and Bausch + Lomb.